April 5, 2022
ALERT! – EUROPE ALUMINUM.
1. LME prices range-traded between $… per mton and $… per mton amid mounting expectations of aggressive monetary tightening.
2. ALERT! – EUROPE ALUMINUM. NO CHANGE: Russian aluminum exports remain off the table in latest EU sanctions package.
3. LME Cash–3M contango widens to new three-week highs, while far-out backwardations continue to ease.
4. RERUN: US SCRAP ALERT. HEATED COMPETITION IN THE US SOUTH: Mexican buyers are increasingly looking for scrap items in the US South.
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5. The Shanghai Futures Exchange (SHFE) was closed today due to the Tomb-Sweeping holiday. Trading will resume on Wednesday, April 6.